Info-tech

Broadridge to double headcount to 3,000

K.V. Kurmanath Hyderabad | Updated on October 30, 2012 Published on October 30, 2012

V. Laxmikanth , Managing Director of Broadridge Financial Solutions India. (file photo)

Broadridge Financial Solutions India, which provides information and communication services to the global capital markets, will double its employee base in India to about 3,000 from the existing 1,500.

The company has invested $10 million on a new campus at Hi-Tec City at Madhapur that is expected to house 2,500 in the next 2-3 years.

“We have about 1,300 people working in our Hyderabad facility now. We are going to double it at the new campus,” V. Laxmikanth, Managing Director of Broadridge Financial Solutions, told Business Line.

The company is planning to double the headcount at its Delhi centre to 500 from about 250 now.

“We are looking at a mix of 50:50. Fifty of the new recruits will be freshers, with the remaining being laterals. For us, freshers mean people with at least one year of experience in the related work,” Laxmikanth said.

Electronic voting

The company has written to the Union Government to allow it to attend to the mandated corporate governance related work to it.

“At present, only NSDL (National Securities Depository Ltd) and CSDL (Central Depository Services Ltd) are allowed to take up electronic voting work. We told them (the Government) we have a good product and are well equipped to do that,” he said.

Broadridge builds relevant infrastructure that takes care of proxy services for over 90 per cent of public companies and mutual funds in North America. It processes more than $3 trillion in fixed income and equity trades a day.

“There is a surge in demand for our services. It is combination of cost pressure and need for more efficient services,” Broadridge Managing Director said.

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Published on October 30, 2012
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